Cal. Mil. & Vet. Code § 987.655
Veterans’ Farm and Home Purchase Act of 1974
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2021
As of January 1, 2011
For a mobilehome which is to be sited in a mobilehome park as defined in Section 18214 of the Health and Safety Code, the department shall charge a rate of interest 1 percent higher than that which is charged to purchasers of conventional housing or of a mobilehome sited on a lot owned by the purchaser.
For a mobilehome which is to be sited in a mobilehome park as defined in Section 18214 of the Health and Safety Code, the department shall charge a rate of interest higher than that which is charged to purchasers of conventional housing or of a mobilehome sited on a lot owned by the purchaser. The interest rate shall be set by the department to balance lending risk while maintaining a rate at or below the market rate for a mobilehome in a park.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.